“For anyone who has been on the fence about staying in or getting out of the market, this is now their excuse to sell,” said Keith Springer, president of Springer Financial Advisors, which has $100 million under advisement.
The S&P 500, which has fallen 4.5% from its recent Feb. 18 high, still has some room to decline in the course of a normal and healthy correction, Mr. Springer said.
“I wouldn’t want it to fall by 10%, but 5% to 7% wrings the excess out of the market,” he said. “I’m looking at this as probably near the bottom right now, and if I had new cash, I would be putting it to work.”
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